The board may appropriate or set aside an amount of proceeds from the sale of any district bonds for:

1. (1) the payment of interest expected to accrue during construction of the improvements or facilities;
2. (2) reserve funds; and
3. (3) expenses incurred and to be incurred in the issuance, sale, and delivery of the bonds.

Added by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166), Sec. 1.04, eff. April 1, 2009.